China: Slight Increase onion price
Prior to the recent cold wave, the domestic onion price remained low, and there was no strong market motivation for a price surge. However, after the cold wave, certain southern markets started to stock up on onions due to the harsh transportation conditions.
In Jinxiang county (a key onion supplier city in Shangdong province), the price of cold storage onions has reached 100 yuan / ton, a 3.8% increase. As there are only a few days left before the Chinese spring festival. Despite the slight increase of the onion price, the market sales did not significantly decrease, as most consumers buy onions in accordance with the daily needs. Because of its strong health benefits, it is recommended to consume onions on a regular basis, especially for people with problems of high blood pressure, high cholesterol and cardiovascular disease.
Source: International Business Daily